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Financing and Implementing Special Assessments

by Marc F. Samet, Finance Director's Office, Miami, FL, USA,



Document Type: Proceeding Paper

Part of: Automated People Movers: Engineering and Management in Major Activity Centers

Abstract:

On November 1, 1984 Metropolitan Dade County began levying and collecting a special assessment on 700 properties within the service area of the Downtown Component of Metrorail. Based on net leasable square footage, the special assessment rate will be adjusted annually to account for new development. At the end of 15 years levies on properties will have raised an amount sufficient to repay debt service on the 20,000,000 of capital contributed toward the funding of the DCM by the private sector. A different security and source of payment than special assessments are being pledged to repay the 20,000. 000 of capital.

Subject Headings: Financing | Rapid transit systems | Rail transportation | Payment | Asset management | Urban areas | Urban and regional development

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